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Schroders APAC co-head departs

ANNABELLE DICKSON  |  THURSDAY, 5 AUG 2021
After a decade with Schroders, its Asia Pacific co-chief executive has resigned and will depart the firm in October due to a change in family circumstances. Chris Durack is set to depart Schroders. He was first appointed to the role, alongside Susan ...

Former Millennium3 representatives cop ban

KARREN VERGARA  |  TUESDAY, 3 AUG 2021
... services that were not provided, ASIC said. Millennium3 reported the fee-for-no-service breach to ASIC. The directors can apply to the Administrative Appeals Tribunal for a review of ASIC's decisions.

Greenwashing scrutiny needed: Evergreen

ELIZABETH MCARTHUR  |  FRIDAY, 23 JUL 2021
... mindful that prohibitions in the Corporations ACT 2001 on misleading and deceptive conduct and false and misleading statements apply in relation to financial products such as securities or interests in funds," Armour said. "Accordingly, we encourage ...

Alphinity launches new fund

ELIZABETH MCARTHUR  |  THURSDAY, 22 JUL 2021
... returned 14.4% per annum after fees since inception in December 2015 (as at 30 June 2021). However, the new fund will also apply sustainability and ESG methodology. The fund manager will draw on the ESG methodology currently used by the Alphinity Australian ...

S&P launches new ESG tilted NZ index

ELIZABETH MCARTHUR  |  TUESDAY, 20 JUL 2021
S&P Dow Jones Indices has introduced a new NZX 50 portfolio ESG tilted index. The rules-based index uses relevant ESG principles to select and weight constituents from the S&P/NZX 50 Portfolio Index, which is designed to measure the performance of the ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
The government on Friday released the draft legislation for the Financial Accountability Regime (FAR) which will apply to superannuation funds and insurers. The FAR extends the Banking Executive Accountability Regime (BEAR) which has applied to banks ...

Vanguard lowers platform fees

ANNABELLE DICKSON  |  MONDAY, 12 JUL 2021
... investment manager will remove the account fee for Vanguard ETFs, managed funds as well as the cash account and instead apply a $9 brokerage fee. The new fee replaces the 0.20% per annum account fee for the cash account, ETFs, managed funds and direct ...

Advice engagement jumps during COVID-19

KARREN VERGARA  |  FRIDAY, 9 JUL 2021
... immediate needs as well as their long-term financial needs," he said. In the past 12 to 18 months, we have seen advisers apply themselves to also help clients access relief measures, rent reductions and short-term life insurance premium waivers. As a ...

FASEA maintains low pass rate

ANNABELLE DICKSON  |  TUESDAY, 6 JUL 2021
... executive Stephen Glenfield said. "Over 16,700 advisers have sat the exam with nine in 10 demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam." ...

Stop abusers hiding super: AIST

ELIZABETH MCARTHUR  |  FRIDAY, 2 JUL 2021
... those in Family Court proceedings to gain full visibility of super assets. Under the reforms, an individual would be able to apply to the court to request their former partner's superannuation information. According to the submission, currently many ...